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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Galliford Try Holdings Plc | LSE:GFRD | London | Ordinary Share | GB00BKY40Q38 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-4.00 | -1.64% | 240.00 | 239.00 | 240.00 | 248.00 | 239.00 | 248.00 | 146,623 | 16:35:14 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gen Contr-single-family Home | 1.39B | 9.1M | 0.0886 | 26.98 | 245.37M |
Date | Subject | Author | Discuss |
---|---|---|---|
15/1/2018 16:16 | Time to buy | anthonyspencer1 | |
15/1/2018 16:13 | Still don't understand why it should cost the two remaining contractors anything for this contract now that clln are out. £60-80m of cash required between them to complete should not necessarily result of a loss. They must be paid on completion. | careful | |
15/1/2018 16:05 | "The company couldn't possibly make a further provision for the risk of Carillion defaulting until such time as that actually happened." I don't think that is right. provisions can be taken if there is a reasonable expectation. I have personal experience of provisions being taken in terms of what the recovery plan would be if a JV collapsed | marksp2011 | |
15/1/2018 15:14 | marksp2011 Without double checking, believe GFRD did make a provision in their last results of some £100m on ALL their underperforming legacy projects including their joint ventures. How much of that related to their original share on the Aberdeen road project, I cannot recall. The company couldn't possibly make a further provision for the risk of Carillion defaulting until such time as that actually happened. It has done just that today, at least in global terms. | grahamburn | |
15/1/2018 15:12 | Downyr. I used to read/amend/approve contracts and performance bonds when working for a Bank 30 years ago, where Bank was acting as guarantor. Clarity and scope of liability is a key part of any contract. This is standard stuff, along with making sure wording holds up when sh*t hits fan. That's why legal docs are so long - to ensure roles and responsibilities are clear, more so under bad times. I am sure you would agree with that - just begs question as to why the foreseeable was unforeseen, not included in wording and why no reward for risk taken in JV, when rewards are tight and for the gov't. Why go into a long term high risk contract with low margins and whilst sharing risk with third parties? There may well be recourse to CRLN, but a long way down list of creditors. I agree with your expectation that earlier anouncement may have hampered and even triggered an earlier downfall. Just a thought.... If receiver/administrat | dr_smith | |
15/1/2018 15:07 | Mark, unfortunately CLLN has followed a well worn sector path. The professional shorts do not always get it right, Ocado as an example, however have hit the bullseye on multiple companies recently. They have the added advantage of forensic accountants who can crawl through every line of the accounts, added probably to wider sector insight. | essentialinvestor | |
15/1/2018 15:03 | CLLN farce gives indication of the post Brexit world. Corbyn waiting in the wings to nationalise everything. not allowed in the eu. | careful | |
15/1/2018 14:37 | I think CLLN was well known as a forthcoming train wreck. Even I sold my shares having looked at the accounts. GFRD should have made a provision even if they released it later. RNS isn't particularly clear - not exactly transparent is it? Is that more cash required to complete that will be recovered at exit or......just cash in to a black hole? | marksp2011 | |
15/1/2018 14:05 | Dr Smith, that how construction JVs are normally set up, but you are right they could have seen it but I think they would not have been able to make any announcement before now | downyr | |
15/1/2018 12:43 | Presumably, the increased contribution to make up Carillion's share - also means a corresponding increase in the share of the net contribution from the project - unless it is being run at a loss? | boystown | |
15/1/2018 12:30 | I hold decent amount of shares GFRD. just ranting against the audit system in general. | careful | |
15/1/2018 12:20 | @ EssentialInvestor - No, I've no personal experience in this industry. Have a few friends who work, and have worked in it, but otherwise nothing. You say no one is accusing GFRD of anything untoward, but that is precisely why I asked careful to clarify his statement. As it does seem to somewhat read (at least to me) as if it's casting suspicions regarding "honesty and transparency" in associating with someone or something related to Galliford Try. Otherwise why mention stuff about honesty and transparency in this GFRD thread and not the CLLN. Maybe it's just a general comment about the construction industry in general, but the target of that comment is unclear without clarification. (Edit - Which he has done while I was typing). | calahan | |
15/1/2018 12:08 | BBC Business live "Galliford Try, the construction and housing group, estimates that Carillion's collapse will cost the business between £30m and £40m. Galliford Try is involved in just one contract with Carillion - the £550m Aberdeen Western Peripheral Route contract to build a new road measuring 58km. Balfour Beatty is also a partner in the project. Galliford said: "The companies will discuss the position urgently with the Official Receiver of Carillion and Transport Scotland, to minimise any impact on the project." | eeza | |
15/1/2018 12:04 | Calahan, do you have much experience of the industry?. The first company I worked for back in the 1980's was Higgs & Hill in New Malden. Exactly the same sh1t way back then, wafer thin margins, cost overruns etc. No one is accusing GFRD of anything untoward, however the sector currently faces a huge issue with an undersupply of skilled labour, staff retention and recruitment. | essentialinvestor | |
15/1/2018 11:57 | careful - "maybe the clln collapse will result in greater transparency and honesty in future." What do you mean? Just because one badly run company was lying to everyone for years and doing all it could to hide their lies (via creative accounting) doesn't mean all construction companies are doing the same. Please don't throw the tar brush around just because the day came when a failing company finally failed. So who are you expecting "greater transparency and honesty" from exactly? GFRD? The construction industry in general? HMG? Someone else? | calahan | |
15/1/2018 11:48 | Think Galliford have said all they can in this connection as of today. The joint venture project referred to in the RNS is an ongoing difficulty for all members of the consortium. Until it is completed (whenever that is) and the client is happy, the total losses are not definitive. Having said that, this road project was clearly mishandled by the consortium from bidding through implementation. The reasons for this are not clear yet, but most certainly need to be avoided in future. | grahamburn | |
15/1/2018 11:38 | Todays statement on joint venture suggests CLLN collapse will cost GFRD £30-40m. We need detailed information at the time of the upcoming results. maybe the clln collapse will result in greater transparency and honesty in future. | careful | |
15/1/2018 10:37 | I don't know why GFRD do not wind down their construction arm. That industry looks an absolute minefield imv. | essentialinvestor | |
15/1/2018 10:36 | Seems to be working OK now. (ii that is) | eeza | |
15/1/2018 10:28 | Would like to top up but Interactive Investor appears to be down.. | joshgroeny | |
15/1/2018 07:57 | Looking at it purely from a GFRD standpoint, one less competitor writing business at stupid prices to worry about. | cwa1 | |
15/1/2018 07:52 | Only if GFRD can reprice them | samdb | |
15/1/2018 07:32 | Wonder if any of the defunct Carillion's contracts will be offered to GFRD? Would they be worth having? | randomwalker | |
12/1/2018 18:54 | H1 results 14 Feb including interim divi announcement. Ex div date 15 March payable 6 April. | fizzypop |
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